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Multifamily Loans in
Spokane Valley, WA

Overview

Spokane Valley is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Spokane Valley are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Spokane Valley are slightly higher than the national average. Spokane Valley apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Spokane Valley.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Spokane Valley, WA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Spokane Valley are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Spokane Valley may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in Spokane Valley, WA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Spokane Valley.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Spokane Valley Market

The city of Spokane Valley in Spokane County has a population of 101,060. The median rent in Spokane County for a 2 bedroom is $1,067. The median Spokane Valley resident is 38 years old with a yearly income of $30,248. The average family has 2.98 members and a median household income of $51,961. Spokane Valley has a 23% higher education rate. The unemployment rate in Spokane Valley is 5.4%.


Population
101,060 people

County
Spokane County

Renters

42.7% of Spokane Valley households are renters.


Rent Burden

31.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Spokane County 1
Washington 2
National 2
Studio $714 $801 $737
1 bedroom $820 $904 $813
2 bedroom $1,067 $1,138 $1,015
3 bedroom $1,527 $1,591 $1,325
4 bedroom $1,821 $1,874 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Spokane Valley Demographics


Median Individual Income
$30,248 / year

Median Household Income
$51,961 / year

Families w/ Dual Incomes
53%

Unemployment Rate
5.4%
Household Income Distribution
Spokane Valley, WA

Median Age
38 years

Avg Family Size
2.98 people
Age Distribution
Spokane Valley, WA

College Education or Above
23%

STEM College Graduates
46%
Education Distribution
Spokane Valley, WA
Source: U.S. Census Bureau

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